But Newcrest says it cannot give any further guidance beyond 2014 given volatility in the gold market.

Elsewhere in the sector, Oceanagold announced a net loss of $70.5 million for the three months to the end of June after the close of trade.

It blamed a slump in the gold price in the period and a resulting cutback in work at one of its major mines in New Zealand.

Its shares closed down 2.8 per cent to $1.75.

In commodity trade, spot gold dropped as investors bet the latest signs of recovery in the US economy will cause the US Federal Reserve to start winding back its stimulus program and is fetching just over $US1,319 an ounce.

West Texas crude oil was lower at $US105.33 a barrel and in Singapore Tapis crude oil was also slightly lower at $US112.46 a barrel.

Meanwhile the dollar dropped against most of its major counterparts on those signs of strength in the US economy.

At 5pm (AEST) it was buying 91.7 US cents, 69.4 euro cents, 91.5 Japanese yen and 59.7 British pence.